MAHLER CONSULTING: what changed
What changed
MAHLER CONSULTING
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€357,928
2024 · €128,564+€229,364
Equity
€24,832
2024 · €396,904-€372,072
Cash
€16,472
2024 · €84,958-€68,486
Balance sheet total
€862,470
2024 · €581,252+€281,218
Largest movements
Assets
- Current investments +€642,057
up €642,057 (+418%), from €153,600 to €795,657
- Financial fixed assets -€250,000
no longer reported in 2025 (was €250,000)
- Cash -€68,486
down €68,486 (-80.6%), from €84,958 to €16,472
mainly Contributions, distributions and other (-€730,000) and Current investments (-€642,057)
- Receivables within one year -€46,403
down €46,403 (-63.5%), from €73,048 to €26,645
of which Trade receivables: -€49,903
Equity and liabilities
- Other debts +€690,705
up €690,705 (+990%), from €69,771 to €760,476
- Reserves -€372,072
down €372,072 (-95.5%), from €389,404 to €17,332
- Debts after one year -€35,670
down €35,670 (-70.4%), from €50,659 to €14,990
Income statement
- Gross operating margin +€306,501
up €306,501 (+165%), from €185,340 to €491,841
- Taxes +€76,547
up €76,547 (+165%), from €46,295 to €122,842
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€128,564
Gross operating margin
+€306,501
Depreciation
-€2,223
Other operating charges
-€620
Financial income
+€1,140
Financial charges
+€1,113
Taxes
-€76,547
Result 2025
€357,928
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€1.1m
Investment
-€401,561
Financing
-€765,242
Cash 2024
€84,958
From operations (derived)
+€1.1m
Net result for the year
+€357,928
Depreciation
+€5,562
Receivables within one year
+€46,403
Smaller working-capital items
+€1,406
Tax, wage and social debts
-€3,687
Other debts
+€690,705
Investment (derived)
-€401,561
Investment in fixed assets (net)
+€240,497
Current investments
-€642,057
Financing
-€765,242
Debts after one year
-€35,670
Current portion of long-term debt
+€428
Contributions, distributions and other
-€730,000
Cash 2025
€16,472
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €581,252 | €862,470 | +€281,218 | +48.4% |
| Fixed assets | 21/28 | €266,275 | €20,217 | -€246,058 | -92.4% |
| Tangible fixed assets | 22/27 | €16,275 | €20,217 | +€3,942 | +24.2% |
| Plant, machinery and equipment | 23 | €1,283 | €873 | -€410 | -31.9% |
| Furniture and vehicles | 24 | €14,992 | €19,344 | +€4,351 | +29.0% |
| Financial fixed assets | 28 | €250,000 | - | -€250,000 | |
| Current assets | 29/58 | €314,977 | €842,253 | +€527,276 | +167% |
| Amounts receivable within one year | 40/41 | €73,048 | €26,645 | -€46,403 | -63.5% |
| Trade receivables | 40 | €73,048 | €23,145 | -€49,903 | -68.3% |
| Other amounts receivable | 41 | - | €3,500 | +€3,500 | |
| Current investments | 50/53 | €153,600 | €795,657 | +€642,057 | +418% |
| Cash at bank and in hand | 54/58 | €84,958 | €16,472 | -€68,486 | -80.6% |
| Deferred charges and accrued income | 490/1 | €3,371 | €3,478 | +€107 | +3.2% |
| Total equity and liabilities | 10/49 | €581,252 | €862,470 | +€281,218 | +48.4% |
| Equity | 10/15 | €396,904 | €24,832 | -€372,072 | -93.7% |
| Contributions | 10/11 | €7,500 | €7,500 | = | 0.0% |
| Reserves | 13 | €389,404 | €17,332 | -€372,072 | -95.5% |
| Distributable reserves | 133 | €389,404 | €17,332 | -€372,072 | -95.5% |
| Amounts payable | 17/49 | €184,347 | €837,637 | +€653,290 | +354% |
| Amounts payable after more than one year | 17 | €50,659 | €14,990 | -€35,670 | -70.4% |
| Financial debts | 170/4 | €50,659 | €14,990 | -€35,670 | -70.4% |
| Amounts payable within one year | 42/48 | €133,688 | €822,648 | +€688,960 | +515% |
| Current portion of amounts payable after more than one year | 42 | €35,242 | €35,670 | +€428 | +1.2% |
| Trade debts | 44 | €7,123 | €8,636 | +€1,513 | +21.2% |
| Suppliers | 440/4 | €7,123 | €8,636 | +€1,513 | +21.2% |
| Taxes, remuneration and social security | 45 | €21,553 | €17,866 | -€3,687 | -17.1% |
| Taxes | 450/3 | €21,553 | €17,866 | -€3,687 | -17.1% |
| Other amounts payable | 47/48 | €69,771 | €760,476 | +€690,705 | +990% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,338 | €5,562 | +€2,223 | +66.6% |
| Other operating charges | 640/8 | €312 | €931 | +€620 | +199% |
| Gross operating margin | 9900 | €185,340 | €491,841 | +€306,501 | +165% |
| Operating profit (loss) | 9901 | €181,690 | €485,348 | +€303,658 | +167% |
| Financial income | 75/76B | €3 | €1,143 | +€1,140 | +37,499% |
| Recurring financial income | 75 | €3 | €1,143 | +€1,140 | +37,499% |
| Financial charges | 65/66B | €6,834 | €5,722 | -€1,113 | -16.3% |
| Recurring financial charges | 65 | €6,834 | €5,722 | -€1,113 | -16.3% |
| Profit (loss) for the period before taxes | 9903 | €174,859 | €480,770 | +€305,911 | +175% |
| Income taxes | 67/77 | €46,295 | €122,842 | +€76,547 | +165% |
| Profit (loss) for the period | 9904 | €128,564 | €357,928 | +€229,364 | +178% |
| Profit (loss) for the period to be appropriated | 9905 | €128,564 | €357,928 | +€229,364 | +178% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.